Shares of QuantumScape Corp. (NYSE: QS) soared as much as 31.56% on October 24, 2024, following the company's announcement of a significant achievement in developing its next-generation solid-state lithium-metal battery technology.

In its third-quarter 2024 earnings release, QuantumScape revealed that it has begun producing and shipping low volumes of its first B-sample cells to automotive customers for testing. These cells, named QSE-5, boast an impressive energy density of 844 watt-hours per liter and can be charged from 10% to 80% in just over 12 minutes, showcasing exceptional performance.

The B-sample phase marks a crucial milestone in the automotive qualification cycle, as it represents the first time a battery meets all major performance specifications demanded by consumers, including range, charging speed, power, low-temperature operation, and safety. This breakthrough brings QuantumScape closer to transforming the electric vehicle market by offering a no-compromise alternative to internal combustion vehicles.